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District reports $1 million net savings from recent bond refunding
Summary
Facilities and finance staff told the board the district closed a bond refunding that generated about $1 million in total savings (approximately $71,000 per year) and a net present‑value savings percentage cited by staff.
District finance staff reported during the budget and finance meeting that a bond refunding authorized in prior months closed with stronger than projected savings.
A presenter summarized the result: "the final numbers came out to be a savings of 1 million in total which is around 71,000 per year and the Net Present Value savings was 6.78%," a staff member told the board. The presenter characterized the outcome as "very positive" for the district.
No formal vote was taken during that update; the presentation was informational and board members had no follow‑up questions at that time.
